I have effectively spoken with 6 plumbers. 

The special allocations must have "substantial economic effect" (essentially meaning that cash flow to that partner could be impacted somewhere down the line by the allocation) When you start getting into partnership tax law and special allocations it is probably a good time to loop in an attorney and/or tax pro.

Yes laws go into effect July 1 in Virginia.

We stopped in last 2021 to allow for a pause / stabilization and are now doing some build-to-rent.I feel this is, now, a harder market to get great cashflow, but we have seen good appreciation and good rent growth, so eventually more cashflow will come.Happy to meet up for a Diet Coke and chat. 

I wanted to share some of the cost effective ways I know of to buy building materials for your BRRR or rental. * I have a lot of luck with Facebook Marketplace.

If I'm able to track down owner-of-record and get them to quit-claim warranty deed to me, and there are no other liens [Note:  There's no such thing as quit claiming a warranty deed, so I'll just assume we're talking about a quit claim deed]: (a) Does that effectively terminate their interests and transfer all rights to me?

But at this point do not want to get too much ahead of myself.So, basically, keeping my current situation in mind, how to form an LLC, any specific type (cost effectively) and move my property into that LLC and eventually all my finances too.

It is not impossible, but building a team that can communicate effectively is going to be key to getting this one done.Good luck!

Active Income - Passive income, from rental real estate, is not subject to high effective tax rates.

Not my first rodeo, but Matt's advice helped me negotiate with the seller much more effectively.